IDEAS home Printed from https://ideas.repec.org/a/eee/lauspo/v85y2019icp207-217.html
   My bibliography  Save this article

Legal, economic, geographical and demographic analysis of the acquisition of Real Estate by foreign nationals in Turkey

Author

Listed:
  • Polat, Zeynel Abidin

Abstract

Real estate acquisition by foreign nationals in Turkey has been an issue of intense debate for a long time and has been subject to frequent legislative changes. The rights of foreign nationals with respect to real estate in Turkey were initially addressed in Land Registry Law No. 2644, which was passed in 1934, with additional amendments made to the law in subsequent decades. The aim of this study is to analyse the legal, economic, geographical and demographic impacts of real estate acquisition by foreign nationals to determine how a policy on this type of real estate acquisition should be implemented in Turkey. For the purposes of analysis, statistical data obtained from the General Directorate of Land Registry and Cadastre (GDLRC) and the Turkish Statistical Institute (TURKSTAT) are used. The author will also make reference to the most recently issued legal regulations. Regulations introduced at various points in time have facilitated the acquisition of real estate by foreign nationals and brought in some $41 billion in revenue to the national economy since 2003. When the geographical distribution of the real estate acquired by foreign nationals is considered, one can observe that the most popular cities are coastal (Istanbul, Antalya, Bursa, Aydın, etc.). Additionally, foreign nationals originating from almost every country in the world have so far acquired real estate in Turkey. The majority of those who have done so are Arabs (from Iraq, Kuwait and Saudi Arabia), Europeans (from Germany, the United Kingdom and Sweden) and Asians (from Afghanistan, Azerbaijan and Kazakhstan). Based on this analysis, suggestions are put forward regarding the policies that could be followed in Turkey when considering the acquisition of real estate by foreign nationals.

Suggested Citation

  • Polat, Zeynel Abidin, 2019. "Legal, economic, geographical and demographic analysis of the acquisition of Real Estate by foreign nationals in Turkey," Land Use Policy, Elsevier, vol. 85(C), pages 207-217.
    • Handle: RePEc:eee:lauspo:v:85:y:2019:i:c:p:207-217
    DOI: 10.1016/j.landusepol.2019.04.003
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0264837718312961
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.landusepol.2019.04.003?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dallas Rogers & Sin Yee Koh, 2017. "The globalisation of real estate: the politics and practice of foreign real estate investment," International Journal of Housing Policy, Taylor & Francis Journals, vol. 17(1), pages 1-14, January.
    2. Dallas Rogers & Sin Yee Koh, 2017. "The globalisation of real estate: the politics and practice of foreign real estate investment," European Journal of Housing Policy, Taylor and Francis Journals, vol. 17(1), pages 1-14, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eliküçük, Seval & Polat, Zeynel Abidin, 2021. "Identifying key factors affecting foreigners' choice on real estate acquisition: The case of İzmir City, Turkey," Land Use Policy, Elsevier, vol. 107(C).
    2. Lokman Gunduz & Ismail H Genc & Ahmet Faruk Aysan, 2021. "Buying citizenship: A boon to district-level house prices in Istanbul," Working Papers hal-03365115, HAL.
    3. Ryohei Yamashita, 2021. "Exploring the process of, and potential demand for, water resource land acquisition in Japan," Asia-Pacific Journal of Regional Science, Springer, vol. 5(2), pages 625-642, June.
    4. Alkan Gökler, Leyla, 2021. "Foreign demand and high-rise luxury housing projects in two Turkish cities: Ankara and Trabzon," Land Use Policy, Elsevier, vol. 103(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hila Zaban, 2020. "The real estate foothold in the Holy Land: Transnational gentrification in Jerusalem," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3116-3134, November.
    2. David Ley, 2021. "A regional growth ecology, a great wall of capital and a metropolitan housing market," Urban Studies, Urban Studies Journal Limited, vol. 58(2), pages 297-315, February.
    3. Antoine Guironnet, 2019. "Cities on the global real estate marketplace: urban development policy and the circulation of financial standards in two French localities," Post-Print halshs-02297204, HAL.
    4. Laure Casanova Enault & Martin Bocquet & Guilhem Boulay, 2023. "Who owns France? Uncovering the structure of property ownership for a better understanding of the socio-spatial distribution of wealth [Qui détient la France ? Révéler la structure de la propriété ," Post-Print hal-04187490, HAL.
    5. Hazel Easthope & Laura Crommelin & Sophie-May Kerr & Laurence Troy & Ryan van den Nouwelant & Gethin Davison, 2022. "Planning for Lower-Income Households in Privately Developed High-Density Neighbourhoods in Sydney, Australia," Urban Planning, Cogitatio Press, vol. 7(4), pages 213-228.
    6. Katsinas, Philipp, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," LSE Research Online Documents on Economics 108590, London School of Economics and Political Science, LSE Library.
    7. Agustin Cocola-Gant & Ana Gago, 2021. "Airbnb, buy-to-let investment and tourism-driven displacement: A case study in Lisbon," Environment and Planning A, , vol. 53(7), pages 1671-1688, October.
    8. Lisha He & Mia M Bennett & Ronghao Jiang, 2022. "The uneven geography of real estate investment by Mainland Chinese state-owned and private enterprises in the U.S.: Local market conditions, migration, and ethnic networks," Environment and Planning A, , vol. 54(4), pages 653-675, June.
    9. Jiang, Yanpeng & Mohabir, Nalini & Ma, Renfeng & Zhu, Pengyu, 2017. "Sorting through Neoliberal Variations of Ghost Cities in China," Land Use Policy, Elsevier, vol. 69(C), pages 445-453.
    10. Giovanni Semi & Marta Tonetta, 2021. "Marginal hosts: Short-term rental suppliers in Turin, Italy," Environment and Planning A, , vol. 53(7), pages 1630-1651, October.
    11. Zac J. Taylor, 2020. "The real estate risk fix: Residential insurance-linked securitization in the Florida metropolis," Environment and Planning A, , vol. 52(6), pages 1131-1149, September.
    12. Philipp Katsinas, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," Environment and Planning A, , vol. 53(7), pages 1652-1670, October.
    13. Jonathan Bourne, 2019. "Empty homes: mapping the extent and value of low-use domestic property in England and Wales," Palgrave Communications, Palgrave Macmillan, vol. 5(1), pages 1-14, December.
    14. Ke Wang & Jianjun Zhang & Wenhua Guo & Zhen Liu & Ze Xu, 2023. "A Perception and Judgement of Contributing Factors for Allocating Urban Residential Land: A Systematic Review and Statistical Analysis," Land, MDPI, vol. 12(1), pages 1-22, January.
    15. Xiao Ma & Zhe Zhang & Yan Han & Xiao-Guang Yue, 2019. "Sustainable Policy Dynamics—A Study on the Recent “Bust” of Foreign Residential Real Estate Investment in Sydney," Sustainability, MDPI, vol. 11(20), pages 1-20, October.
    16. Martijn Konings & Lisa Adkins & Dallas Rogers, 2021. "The institutional logic of property inflation," Environment and Planning A, , vol. 53(3), pages 448-456, May.
    17. Caroline Dewilde, 2018. "Explaining the declined affordability of housing for low-income private renters across Western Europe," Urban Studies, Urban Studies Journal Limited, vol. 55(12), pages 2618-2639, September.
    18. Emma Avery & Sarah Moser, 2023. "Urban speculation for survival: Adaptations and negotiations in Forest City, Malaysia," Environment and Planning C, , vol. 41(2), pages 221-239, March.
    19. Cody Hochstenbach & Richard Ronald, 2020. "The unlikely revival of private renting in Amsterdam: Re-regulating a regulated housing market," Environment and Planning A, , vol. 52(8), pages 1622-1642, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lauspo:v:85:y:2019:i:c:p:207-217. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joice Jiang (email available below). General contact details of provider: https://www.journals.elsevier.com/land-use-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.